Shake Shack Inc. — Director's Dealing 2017

Nov 16, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Shake Shack Inc. (SHAK)
CIK: 0001620533
Period of Report: 2017-11-14

Reporting Person: RUBENZER PEGGY (SVP, People Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-11-14	CLASS A COMMON STOCK	M	5400	$21	Acquired	22815	Direct
2017-11-14	CLASS A COMMON STOCK	S	5400	$37.897	Disposed	17415	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-11-15	Stock Option (Right to Buy)	$21.0	M	5400	Disposed	2025-01-29	CLASS A COMMON STOCK (5400.0)	Direct

Footnotes

F1: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were obtained upon the Reporting Person's cashless exercise of the option to purchase 5,400 shares of Class A Stock.

F2: Represents the sale of shares of Class A Stock of the Issuer that were acquired in a cashless exercise of the Reporting Person's option to purchase 5,400 shares of Class A Stock.

F3: The transaction was executed in multiple trades at prices ranging from $37.8350 to $37.9500. The price reported above reflects the weighted average sales price.

F4: The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F5: An option to purchase 106,000 shares of Class A Stock of the Issuer at $21 per share was granted to the Reporting Person on January 29, 2015. 21,200 options vested on January 29, 2016, 21,200 options vested on January 29, 2017, and the remaining options vest in three equal installments on each of January 29, 2018, January 29, 2019 and January 29, 2020, subject to the Reporting Person's continued service with the Issuer.